Republic of the Philippines

City of Lapu-Lapu
Lapu-Lapu City College
Gun-Ob, Lapu-Lapu City

ALLOWANCE MANAGEMENT
AMONG THE STUDENTS OF LAPU-
LAPU CITY COLLEGE

By:
Donaire, Maya G.
Ochea, Irene
Pejo, Rhoda May
Potot, Rose
Taneo,Sherrybeth

Submitted to:
Ms. Carla Malait
Instructor
 CHAPTER I PROBLEM AND IT’S SCOPE

INTRODUCTION

Rationale of the Study

Money is a fundamental and indispensable tool to live in a materialistic world. It can

be in the form of metal coin or piece of paper, but people value this thing to sustain their

everyday needs like food, water, and clothes. Money can also provide things for people’s

satisfaction like gadgets, appliances and accessories. According to an anonymous author

“money doesn’t grow on trees”, meaning a person should be careful on how much money he

spends because there is only a limited quantity.

Money is involved in many things and situations around the world. Students’ life in

general costs money since everyone has different spending habits. It is hard to predict exactly

how much money is needed. People in different walks of life have their own ways in

spending and saving their money. Allowance is the amount of money that is experimented

especially within a set of regulations or for a specific purpose to put upon a fixed quantity. It

states that allowance is limited and it must be spent wisely. Allowance could be a terrific tool

for teaching children the basics of money management, even at a young age.

Everyone is different, some people are natural savers and some are natural spenders.

Most students have a problem in budgeting their allowance. Many of the students struggle on

how they allocate their allowance because of many expenses. However, their allowance

depends on how much their parents gave them. Researchers of this study is to determine how

and where the respondents spend their money every day.

 In this generation, money allowance is needed especially in every student’s life but

there are a lot of students who struggles in managing their allowance. In this case, some of

the students don`t take it seriously on how to manage their allowance. They just spend it with

their wants such as make-ups and so on. Giving the allowance is another issue. Students who

live with their parents usually receive their allowance daily or weekly. For instance, students

who are not with their parents are receiving their allowance weekly and monthly. In addition,

a regular allowance can teach budgeting and responsibility, economic and encourage

beneficial habits such as saving. Allowance can be a great way to help students develop smart

money habits but some parents use allowance as an excuse to avoid talking about financial

matter. According to Lewis Mandell, allowance is just plain bad.“Allowance is statistically

associated with diminished financial literacy, lower levels of motivation and an aversion to

work.”In a national survey of high school students, student who received an unconditional

allowance knew surprisingly little about saving and budgeting.

Theoretical Background

Students all over the world spend in several different ways, but close market research

on student spending indicates, that there are several common patterns, that can be seen.

Spending habits in adolescents is changing drastically in the last few years, but that change is

almost uniform in all the metros of the world. According to a study conducted by a bank and

financial institution, youths fork over money to buy cell phone load, to play computer games

at internet cafes and to buy cigarettes and accessories (JJ Manotoc ABS CBN News 2010).

Teens hang out and shop.

Nowadays, some of the students spend most of their time doing recreational activities.

Some of them believe that the last days of high school life must be enjoyed. Most of them
choose internet, social-networking sites, TV, movies, and music over their studies. In

connection with this, of course money needed to purchase or to have these recreational

activities. Money could buy all what the student wants when he or she is bored. The more

allowance the student has, the more chance that he would spend most of his time to other

activities that in academic-related activities. He or she would spend less time for his or her

studies.

Teens are active consumers in terms of the money, they spend as well as in the

influence they wild in their families and on societal friends. Despite being raised in a period

of rapid change, they display a remarkable self confidence in their judgement (Tempo 2010).

A lot of the number of students seems to want what is the “in" trend rather than what people

are doing or using the right role. Giving allowance is not just for a teen’s financial assistance.

It can also help them to learn the necessary things when it comes to money management.

‘Give 'em an Allowance!’ an article by David McCurrach stated that, “Remember, the

purpose of an allowance is to give your children the opportunity to learn how to manage

money through their own successes and failures and the input of their parents.” It means that

if the parents let their children to have allowance and give them

permission to spend it, they will encounter different situations on money and they will be able

to learn budgeting their allowance and savings independently.

Conceptual Background

The research flow oh the study is on the Figure No. 1 illustrated the input, the process
and the output. The input of the study was the data gathering where we have our survey
questioner for the respondents. The process of thaw study was the data evaluation (collection
and presentation). The survey questionnaire was given to the respondents.
The first thing in realizing this study specially the significant relationship between the
allowance and expenses from unpublished thesis was that, the researcher underwent the
primary data gathering in which one-on-one pre-survey to the respondents who are in which
one-on-one pre-server to the respondents and also, a short briefing is commenced to the
respondents to comprehend the purpose of the study.
Questions are made coming from the most common noticeable effects of allowance
management to the respondents of the study. Next, the researchers initiated essential part of
the flow in which the data evaluation. This is the part of the process in which responses had
been collected then the answers are ought to be presented, analyzed, and interpreted in a way
of evaluating the findings from the responses.
Finally, after evaluating the responses of the students who have their allowances and
expenses, generalization, the summary of findings of which arrived through this study will be
proposed.
Figure 1 shows the sequence that shows the illustration and visualization of this of the
research flow.

Flow of the Sudy

INPUT
PROCESS OUTPUT
Data Gathering
A. Collection and Relationship
A. Survey Presentation Management
Questionnaire for Program
B. Analysis
the Respondents
Statement of the Problem

The researchers aimed to find how and where the students of Lapu-Lapu City College

spend their daily allowance.

Thus, sought to answer the following:

1. What is the student`s profile in terms of the following:

1.1 Age; and

1.2 Gender?

2. What is the average amount of the allowance of the students?

3. What is the average amount of the expenses of the respondents?

4. Is there a significant relationship between daily allowance and expenses of the

respondents?

Statement of Hypothesis

The researchers expected outcome of the study are:

H0: There is no Significant Relationship between the Allowance and Expenses.

Significance of the Study

The study deals with the daily allowance of college students. It seek answers as to

how and where the respondents spend their money every day. Considering that money is an

essential commodity that helps a person to run his/her life, this is significant for it will benefit

the students, parents, teachers and future researchers.

Students. This is beneficial for them to appraise their practices of spending their

money and this study can enlighten them on how they use their allowance wisely.
 Parents. This study can benefit the parents by providing insights and information

about the allowance they gave their children and how/where generally use it and this study

can inform them on how much allowance to give to use it on full accurate for their needs and

course.

Teachers. This study can benefit them by providing insights and information about

allowance and it help them to be aware on spend their money.

Future Researchers. It can benefit them to have an advance information about

allowance management and also how they deal their money in term.

Research Methods and Procedures

As appropriate methods, this study followed a descriptive survey method to assess the

age and gender, quantity of the amount of allowance and expenses. The significant

relationship between the daily allowance and expenses among the students.

Research Environment

Lapu-Lapu City College is the environment of the study. It is a public city college

located in Gun-Ob, Lapu-Lapu City, Cebu. It was established through the City Ordinance No.

354-2010, designed to serve indigent students of the city by providing them access to quality

and affordable education. This is a tertiary educational institution that envisions as the center

of excellence and becomes a powerhouse school for Academics, talents and sports

competition that will achievements and to the city college. The instill its vision, mission and

goals to the people through a living adage.

Research Respondents

The respondents of the study are the students of the Lapu-Lapu City College

specifically the first year students taking up the course of Education. The said course has
three sections: (BSED-Major in English), (BSED-Major in Filipino), and (BEED-Major in

General Education).

Research Instruments

The researchers designed a questionnaire survey instrument to assess the money

management practices among the students in Lapu-Lapu City College. The 4- item scale was

administered to the respondents of this research questions with a provided with a series of

questions corresponding to the research and to determine each individual lifestyle according

to their expenditures. In question number one, it answered the student’s profile of the

respondents and in question number two, it answered the average amount of the allowance of

the respondents while in the questions number three, answered the average amount of the

expenses of the respondents. Lastly, the questions number four, answered if there is

significant relationship between allowance and expenses of the respondents.

Data Gathering Procedures

A letter of permission was given to the College President of Lapu-Lapu City College

upon approval the study of data gathering from the respondents had been utilized the data

gathered had been analyzed and interpreted as it was being fed in the Microsoft, Excel for the

Normality Test.

Data Analysis

The Statistical tools which were employed in the analysis of the data gathered are the
following:
1. To determine the percentage of the respondents, the simple percentage was used in the
study calculated through the frequency divided by the total number multiplied by 100
percent.
2. The z-test was used to test the hypothesis and only respondents higher than 30 in
determining the significant relationship between allowance and expenses among the students
of Lapu-Lapu City College.
Definition of Terms

The researchers of this study choose the following terms to be defined to avoid

ambiguity.

Allowance. This refers to a specifically limited amount of money that is given by the

parents to their children.

Dearth. This refers to money shortage.

Frequency. This refers how many times the parents give allowance to their children.

Management. This refers in managing student`s daily allowance.

Money. It can be a coin or paper used to support the needs of students.

Lapu-Lapu City College It serves as place where the study was conducted.

Students. It serves as the respondents of the study.

 Chapter II

Review of Related Literature

Money is part of everyone’s life in many things and various situations around the

globe; every person had experienced, even once, to see and to hold money, so it’s indeed a

big part of everyone’s life. In fact according to Ayn Rand, money is the source of survival.

She explains in her book Atlas Shrugged that the source of a person's livelihood is the verdict

he pronounces in his life.

As what Salve Duplito on a public report, maximizing a daily allowance takes effort

and discipline, and may require small changes in your daily routine. Duplito suggested bring

a food instead of buying meals and she also added a statement that even Makati people have

adopted this practice to save on their daily spending. Commuting to school also costs time

and money to students and she suggests that time management and planning play important

roles for more efficient travel. There are two ways to make a big impact on finances:

increasing income or reducing expenses. “If you want to maximize your allowance, you have

to do both,” Duplito suggested. She recommended tracking down weekly expenses on a

notebook to monitor the items bought, cost per item, and time it was purchased. The majority

of students who spent their own money higher than the half of the total percentage were

clothing and to and from school travel expenses. The survey found that students are in the

minority when it comes to paying for books, computers, laptops and food without their

parent’s help.

According to Citi, a leading bank, and Seventeen, a monthly teen magazine,

conducted a survey of more than one thousand high school seniors and college students to

learn more about students’ spending and saving habits The survey found that nearly four out

of five students are working their way through school – 19 hours per week on average, with
the majority also taking responsibility by using their own funds for college expenses. For the

most part, students are trying to take control of their finances. Nearly six in ten percent of

students have adopted a budget to help them keep track of expenses and a whopping seven in

ten percent pay their own credit card bills.

The 2000 jump starts national survey of found that less than half of the American high

schools reported having received a regular allowance when growing up. Thirty five point

three percent received an allowance base on chores and received an unconditional allowance

those who received no allowance had a highest mean financial literacy score of fifty-two

point five percent. Those who received an allowance dependent on chores had the second

highest mean financial literacy score of fifty-two point one percent. Those who received an

unconditional had the lowest rate of financial literacy with a score of forty-nine point one

percent.

College school students typically get one hundred fifty to two hundred fifty

(excluding transport allowance) per day. Students from exclusive schools like Ateneo and

DLSU receive higher allowance. The allowance covers fifty to one hundred pesos for lunch,

thirty to fifty pesos for snacks, twenty pesos for photocopies and fifty to eighty pesos for

school requirements like printing, buying pens, etc. (philSTAR.com)

According to Tamsen Butler, author of The Complete Guide to Personal Finance for

that financial support, though, should come some clean guidance on the difference between

needs and wants, along with the key to maintaining an accurate budget. Senior High Students

are in a unique situation because they have restricted income and high expenses, therefore

they manage money differently (Micomonaco, 2003).

Manila, Philippines says that students spend a bulk of their allowance on mobile

phone load, food and transportation. According to Banario (1995) pointed out that allocation
of this money allowance into various necessities of life must be wisely done to avoid

consumption dissatisfaction. Money plays a vital role in every person’s life. It is the medium

use for exchange, unit of account and store of value (dictionary.com)

 RESUME
PERSONAL INFORMATION:
Name : Maya G. Donaire
Age : 19 years old
Date of Birth : May 18,1999
Course : GAS
School : Pajo National High School
Present Address : Suba-Masulog Basak, Lapu-Lapu City
Province : Cebu
Contact Number : 09472223851
Mother’s Name : Salvacion G. Donaire
Father’s Name : Mario D. Balbos Sr.

OBJECTIVES:
To work effectively with a team while improving customer satisfaction and retaining
concerned customers, helping to improve the company's revenue and at the same time
enhancing communication and technical skills.

ACADEMIC BACKGROUND:
2016-2018 Senior High School
Pajo National High School
Pajo Lapu-Lapu City
2012-2016 Junior High School
Zosimo E. Fabroa Memorial National High School
Western Poblacion, Poro,Cebu
2006-2012 Elementary Education
Teguis, Poro, Cebu

SKILLS/HOBBIES: Can be able to work with the use of Microsoft Word, Excel and
Powerpoint. Reading inspirational books.
SEMINARS AND TRAINING:

2017 Drug Campaign Seminar

Theme: PAF@70: Partnering for Change and Sustaining the Efforts
Towards a Jointly Engaged Transforming Force for Greater Peace and
Security
June 9, 2017 at Pajo National High School
2019 RED CROSS TRAINING

CHARACTER REFERENCE:

A2C John Benjie S. Diaz PAF 205TH Tactical Helicopter

Military Personnel
Contact #: 093303810967

Maria Richelle B. Diaz Medical Representative

Biocare Life Sciences Inc.
Contact #: 09451440738

Mario D. Balbos Jr. Bs Aviation Technology

Jollibee Service Crew
Contact #: 09567867059
RESUME PERSONAL INFORMATION:
Name: Rhoda May D. Pejo
Age : 19
Date of Birth : March 10, 2000
Course : BEED
School : lapu-Lapu City College
Present Address : Gun-ob Lapu-Lapu City
Province : Cebu
Contact Number : 09429252512 Mother’s Name : Maritz Pejo
Father’s Name : Sandy
___________________________________________________________________________
OBJECTIVES:
To work effectively with a team while improving customer satisfaction and retaining
concerned customers, helping to improve the company's revenue and at the same time
enhancing communication and technical skills.

SKILLS/HOBBIES:
Familiar action and retaining concerned customers, helping to improve the company's
revenue and at the same time enhancing communication and technical skills.
___________________________________________________________________________
ACADEMIC BACKGROUND:
2012-2016 Gun-ob High School, Gun-ob Lapu-Lapu City
2005-2011 Gun-ob Elementary School, Gun- ob Lapu-Lapu City
SKILLS/HOBBIES: Can be able to work with the use of Microsoft Word, Excel and
Powerpoint. Reading inspirational books.
SEMINARS AND TRAINING:

CHARACTER REFERENCE: Analie Castillon # 0966 789 9869

Dely Cris Posas # 0935 357 8089
RESUME PERSONAL INFORMATION:
Name: Irene A. Ochea
Age: 18
Date of Birth: May02, 2000
Course: BEED
School: Lapu-Lapu City College
Present Address: Kalawisan, Lapu-Lapu
City Province: Cebu
Contact Number: 09306095882
Mother’s Name: SegundaOchea
Father’s Name: ReynaldoOchea
___________________________________________________________________________
OBJECTIVES:
Improving my communication, cooperation and computer skills and helpsinrising the
company's sales and its economic status.
___________________________________________________________________________
Academic Backgrounds:
2005 – 2012 Talima Elementary School
2012 – 2018 Tingo National High School
___________________________________________________________________________
SKILLS/HOBBIES: Can efficiently work with the use of Microsoft Word, Excel and
Powerpoint, Reading books.
___________________________________________________________________________

SEMINARS AND TRAINING:

Red Cross Training
CHARACTER REFERENCE:
Analie Castillon # 0966 789 9869
Dely Cris Posas # 0935 357 8089
RESUME PERSONAL INFORMATION:
Name : Sherrybeth A. Taneo
Age : 24
Date of Birth : April 13
Course : BEED
School : Lapu-Lapu Citu College
Present Address : Marigondon Lapu-Lapu City
Province : Cebu
Contact Number : 09054146323
Mother’s Name : Nelibeth Araniego
Father’s Name : Romelito Montemayor

OBJECTIVES:
Familiar action and retaining concerned customers, helping to improve the company's
revenue and at the same time enhancing communication and technical skills.
___________________________________________________________________________
ACADEMIC BACKGROUND:
2008-2012 Basak Night High School, Basak Lapu-Lapu City
2004-2008 Marigondon Elementary School, Marigondon Lapu-Lapu City
___________________________________________________________________________
SKILLS/HOBBIES:
Can be able to work with the use of Microsoft Word, Excel and Powerpoint. Reading
inspirational books.
___________________________________________________________________________
SEMINARS AND TRAINING:
CHARACTER REFERENCE:
Analie Castillon # 0966 789 9869
Dely Cris Posas # 0935 357 8089
 RESUME
PERSONAL INFORMATION:
Name : Rose M. Potot
Age : 20 years old
Date of Birth : January 15, 1999
Course : BEED
School : Lapu-Lapu City College
Present Address : Suba-Masulog Basak, Lapu-Lapu City
Province : Cebu
Contact Number : 09323789906
Mother’s Name : Evelyn M. Potot
Father’s Name : Tiburcio D. Potot

OBJECTIVES:
To enhance my educational and professional skills and to work effectively with a team while
improving our research study.
___________________________________________________________________________
ACADEMIC BACKGROUND:
2016-2018 Senior High School
Science & Technology Education Center
Basak, Lapu-Lapu City
2012-2016 Junior High School
Marigondon l National High School
Marigondon, Lapu-Lapu City
2006-2012 Elementary Education
Suba-Masulog Elementary School
Basak, Lapu-Lapu City
SKILLS/HOBBIES: Can be able to work with the use of Microsoft Word, Excel and
Powerpoint. Also can able to edit of any kinds of videos.

SEMINARS AND TRAINING

2016 Symposium on Drugs
(STEC Basak, Lapu-Lapu City)
2017 Symposium on Media & Information Literacy

(STEC Basak, Lapu-Lapu City)

CHARACTER REFERENCE:

Dr. Allan S. Adem Science & Technology Education Center

(Teacher) Basak, Lapu-Lapu City

Dr. Bryan C. Acar Science & Technology Education Center

(Teacher) Basak, Lapu-Lapu City